Key economic events for the week of Oct. 28

October 27, 2013

This week ushers in a new month and another Federal Reserve meeting. The big reports due out this week — October unemployment data and third-quarter estimates for gross domestic product — have been pushed back. Instead, expect more economic data to come out that had been delayed by the shutdown.

Monday

A delayed report on September industrial production is out at 9:15 a.m. Production is expected to increase by 0.4 percent, the same rate of increase as in the previous month.

At 10 a.m., pending home sales numbers for September are released. Analysts expect sales to remain flat as higher mortgage rates priced some prospective buyers out of the market. In August, sales were down by 1.6 percent.

Tuesday

An update to Standard & Poor’s Case-Shiller August home price index is released at 9 a.m. Analysts predict that home values rose by 12.4 percent, the same rate of increase as the previous month.

The consumer confidence index for October, out at 10 a.m., is expected to drop to 72 from nearly 80 last month. Measures of consumer sentiment have fallen recently because Americans remain uncertain about the economy in Washington’s political gridlock.

More releases delayed by the shutdown are out, including September’s retail sales numbers and producer price index as well as August’s business inventories.

Retail sales are forecast to stay flat, after a rise of 0.2 percent the previous month. The producer price index should rise by 0.2 percent, compared with 0.3 percent in August. Business inventories should grow by 0.3 percent, compared with a 0.4 percent rise earlier.

Federal Reserve policymakers begin their two-day meeting.

Wednesday

At 8:15 a.m., the payroll-processing firm ADP releases private-sector jobs data for October. Analysts expect that 150,000 jobs were added, compared with 166,000 in September.

September’s delayed consumer price index is out today. It is expected to rise by 0.2 percent, compared with 0.1 percent a month earlier.

At 2 p.m., the Fed releases its policy statement and projections. There is little expectation that the central bank will move to scale back its stimulus program.

Thursday

Weekly jobless claims are forecast to drop to 335,000, from 350,000 last week.

Friday

October’s jobs report is set to be released next Friday. Last week, the Labor Department’s release showed a tepid September report. The unemployment rate ticked down to 7.2 percent, and 148,000 jobs were added.

Other data out include the Institute of Supply Management’s manufacturing index and auto sales for October. The index is expected to fall a notch to 55, from 56. Auto sales should reach 15.4 million units, up from 15.2 million units the previous month.

Amrita Jayakumar covers federal government contracting for Capital Business, The Post's local business publication.
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